Input tax credit transfer to electronic ledger for inputs held in stock relating to exempted goods or services on transition.

Registered taxable persons who manufactured or provided both exempted and non exempted goods or services may carry into their electronic credit ledger the Cenvat credit carried forward under the earlier law and the Cenvat credit of eligible duties in respect of inputs held in stock or inputs contained in semi finished or finished goods on the appointed day that relate to exempted goods or services.

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